HomeMy WebLinkAboutAcquisition - APN 634-061-037 - 43-820 Blueberry Ln - Desert RosePALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: AUTHORIZE THE ACQUISITION OF APN 634-061-037
SUBMITTED BY: JANET M. MOORE, SENIOR MANAGEMENT ANALYST
DATE: MAY 13, 2004
CONTENTS: CERTIFICATE OF ACCEPTANCE OF DEED
Recommendation:
By Minute Motion,
1 } authorize the acquisition of 43-820 Blueberry Lane (APN 634-061-037) for
the purpose of retaining affordability covenants and resale; and
2) authorize the Executive Director to execute any documents necessary to
facilitate this acquisition. Funds are available in the Housing Set -Aside
Fund.
Executive Summary:
The Agency has the first right of refusal to purchase resales at Desert Rose in order to maintain
affordability covenants and resell the unit to another qualified buyer. If the Agency fails to execute
its option to purchase within a 60-day period, the homeowner can sell the house to a non -qualified
buyer and the Agency would lose its covenants on the property.
Discussion:
The above -referenced property is owned by Ariel D. Gonzalez and Diana Gonzalez who are selling
the property. The Agency has the first right of refusal to purchase the properties. Staff desires to
exercise the Agency's option to purchase in order to retain affordability covenants in anticipation
of the expiration of the 60-day Right of Refusal to purchase period to allow for additional time to
identify a low income family to purchase the unit.
The home was purchased in September 3, 1997, for the sale price of $90,950.00. Based on the
formula for resale described in the Unit Regulatory Agreement, the seller is authorized to sell the
home for $110,231.00 plus commissions and reasonable closing costs. The Agency has the right
to purchase the properties for the same amount as the sellers are authorized to sell.
G.\RDATatty Leon\Wpdocs\JMM\staff reportlGonzalez Acquistion.wpd
A.P.N. 634-061-037
CERTIFICATE OF ACCEPTANCE OF DEED
(Gov. Code 27281)
THIS IS TO CERTIFY that the interest in real property conveyed by the Grant Deed„
from Ariel D. Gonzalez and Diana Gonzalez„ husband and wife, to the THE PALM
DESERT REDEVELOPMENT AGENCY, a public body, corporate and politic, the legally
described property as: Lot 71 of Tract Map No. 27546, in the City of Palm Desert, County
of Riverside, State of California, as per map recorded in book 249 of maps, pages(s) 63
through 68 inclusive, of the official records of Riverside County,also known as 43-820
Blueberry Lane, is hereby accepted by order of the Agency Board on behalf of the Agency
pursuant to Minute Motion of the Agency Board on Mav 13.2004 , the Grantee consents
to the recordation thereof by its duly authorized officer.
Date:
PALM DESERT REDEVELOPMENT AGENCY
A public body, corporate and politic
By:
Robert A. Spiegel, Chairman
State of California }SS
County of }
On , 20 , before me, , a Notary Public,
personally appeared personally
known to me (or proved to me on the basis of satisfactory evidence) to be the person(s)
whose name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument the person(s), orthe entity upon behalf of which
the person(s) acted, executed the instrument.
WITNESS my hand and official seal. [ Notarial Seal ]
Signature